FLI keeps highest credit rating for P29B bonds
Gotianun-led Filinvest Land Inc. maintained the top credit rating for its outstanding bonds amounting to P29 billion.
Local credit watchdog Philippine Rating Services Corp. gave FLI a PRS Aaa issue credit rating, the highest quality with minimal credit risk. This means that the property firm’s capacity to meet its financial commitment on the obligation is extremely strong.
Of FLI’s P29 billion bonds, P7 billion is due in 2019, P4.3 billion due in 2020, P5.3 billion in 2021, P7 billion in 2022, P2.7 billion in 2023, P1.7 billion in 2024, and P1 billion due in 2025.
In maintaining the credit rating, Philratings considered FLI’s strong income generation and positive cash flows which led to more than ample debt-servicing capacity, and its established brand name and track record.
The local credit watcher likewise took into account FLI’s sound growth strategies, which are focused on building a balanced mix of real estate sales and recurring income.
FLI, one of the leading property developers in the countey, . is mainly engaged in the development and sale of real estate products, such as residential lots and housing units, medium-to-high rise buildings (MRBs), and townships, among others.
It is also involved in the leasing of office and retail spaces in the cities of Alabang, Makati, Pasay, Tagaytay, and Cebu.